Nifty: Resistance 5050/5082/5115/5130/5151-5165
Support 5007-4994/4949/4918
As wrote yesterday, 100% exact movement was seen in Nifty. Nifty sustaining below 5115 saw good crack. Nifty broke & closed below 5050... Immediate crucial support range 5007-4994 will be important on closing basis for Nifty. Nifty has failed to maintain higher range of 5165 in all past occassions & it has proved to be very crucial resistance zone.
A pullback can be seen, if this level is held, else further downside move may be seen. Intraday on upside, Nifty sustaining above 5050 may see some bounce back.Closing below 5007-4994, may lead Nifty to test support levels of 4949-4820-4770 in coming sessions.
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